Tesla Supplier Futuris Acquired by Adient

Adient announced that it completed the acquisition of Futuris for $360 million. Futuris had been spun out of an Australian holding company with backing from Merv Dunn and Clearlake Capital. Fountain Partners became involved when Futuris began supplying seating for Tesla’s Model S. Fountain financed the initial set of equipment in Tesla’s Fremont factory as well as Futuris’ build out of its new space in Newark.